Why use a documentation service?
Consider the following reasons in deciding whether to use this service:
- Vessel documentation can be complicated, confusing and time consuming and requires specialized knowledge.
- Complex governmental regulations determine whether a vessel must be titled, state registered, Coast Guard documented, or foreign registered.
- Registration and licensing requirements vary widely among jurisdictions. Failure to comply with these requirements can result in heavy fines and penalties.
- Maritime lien priorities are difficult to understand. Maritime liens and encumbrances are under Federal jurisdiction. Federal priorities and regulations are different from those administered on the state level.
- There is no such thing as “title insurance” when buying a vessel as compared to purchasing a home. The buyer must make sure that the vessel’s